Potash Fertilizer Market Analysis :
Potash fertilizers are mainly consumed by cereals & grains, fruits & vegetables, cereals, rice, wheat, and corn. Potash belongs to a group of minerals that comprise potassium that is used in cultivation to improve plant growth. Potassium is a vital mineral necessary for human well-being. Potash is an inorganic product, generally used as a fertilizer to boost water retention in plants. Whereas, potash fertilizers also help to grow crop yield, improve taste, and further help plants to prevent getting diseases. Potash is a natural component found in abundant in nature. It is stored in the soil and harvested as salt deposits. Potash fertilizers provide various benefits, such as prevention of infection of plants from pests & other microbes and support to adapt to weather conditions, which help to absorb more minerals from the soil.
COVID-19 scenario analysis:
- The outbreak of COVID-19 has disrupted many industrial activities in agriculture and its supply chain. Non-availability of labor has interrupted harvesting activities, particularly in northwest India where wheat and pulses are being harvested. Prices have declined for wheat, vegetables, and other crops, yet consumers are often paying more.
- The Indian pesticide industry is heavily dependent on Chinese companies for raw materials, and could be heavily impacted by the COVID-19 outbreak. Increase in the cost of raw material inputs and the major supply gap from China affect the global pesticide market.
- Farmers face the shortage of agricultural inputs, such as seed, fertilizer, and pesticides, due to global trade disturbance. China is one of the major fertilizer producers and exporters in the world. The lockdown in China has severely affected the international fertilizer trade.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The potash fertilizers market is significantly growing at a healthy rate due to rise in demand for potash fertilizers for production of fruits & vegetables by farmers and increase in demand for high effectiveness in fertilizers combined with growing applicability of potash fertilizers. Potash fertilizers are mainly used to improve plant growth by providing essential nutrition content. In addition, potash fertilizers help in the overall improvement of plant eminence and also increase its shelf life.
However, the growth in use of chlorine-free potash fertilizer such as sulfate of potash (SOP) in fertigation systems is expected to drive the growth of the potash fertilizers market. Potassium sulfate does not hold nitrogen, heavy metals, chlorine or sodium. Therefore, potash fertilizers are used by drip irrigation that help to improve acceptance in plants against cold weather.
However, stringent government regulation for use of potash fertilizers is expected to hamper the market growth. In addition, rising concern of organic farming is other factor that is expected to limit the use of potash fertilizers in agriculture industries, thereby hampering the growth of the global potash fertilizer market over the forecast period.
Surge in usage of potash fertilizer in agriculture and industrial applications:
Based on region, the global potash fertilizer market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share for potash fertilizer, owing to high demand for food grains and growing responsiveness among farmers about the effective use of land by using fertilizers. Moreover, increase in consumption of vegetable crops involves potash fertilizers to preserve potassium content. China and India have the largest population in the Asia-Pacific region. The rise in food demand in these vastly populous countries escalates the demand for fertilizers to increase the crop yield, thereby boosting the potash fertilizers market in these countries. Whereas, the usage of potassium treated as a risk-hedging method and measured as a safe investment have led to increased sales of fertilizers and pesticides in the Asia-Pacific market. The Asia-Pacific potash fertilizer market is expected to grow due to investments from various multinational manufacturers, especially in countries such as China, India, and Japan.
Key benefits of the report:
- This study presents the analytical depiction of the potash fertilizer market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the potash fertilizer market share.
- The current market is quantitatively analyzed to highlight the potash fertilizer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the potash fertilizer market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Potash Fertilizer Market Report Highlights
By Crop Type
Key Market Players
CF Industries, Potash Corporation, JSC Belaruskali, Yara International ASA, Israel Chemicals Ltd, Eurochem Group AG, Sinofert Holdings Limited, Uralkali, The Mosaic Company, Sociedad Química Y Minera De Chile S.A. (SQM), Borealis AG, K+S Aktiengesellschaft, Agrium Inc., HELM AG, ICL Ltd, Potash Corporation of Saskatchewan Inc